Florida Gulf Beach Investment Condos

Personalized Buyer Representation Service from The Top Team
at Florida's Largest Real Estate Office, Charles Rutenberg Realty

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Any Questions Call Max at 727-399-1347

Gulf Front Condos are the best for income. Condos with weekly Rentals are the best cash flows for vacationer rotation.
The condos that offer lower rental periods allow more rentals per season, so they tend to be the best revenue producers. Generally they range from no restrictions such as condo hotels- and complexes offering 1 to 7 days lease terms. Anything on or near the water is a good investment, as vacationers prefer to be near the water. Gulf Beach Property is the first choice.. followed by intracoastal property with Gulf Access by boat. The return on investment is not just based on revenue. The tax advantages, appreciation, offsetting of vacation costs and personal preference all enter into an "investment". Some complexes allow pets others don't. Consult with us for a search

Average Percent of Original Asking Price Received - 2016 - 94% 2017- 96%
The percentage of Closed Sales 2014 thru 2016 - which were All Cash Sales averaged 65% . Cash Sales can be a useful indicator of the extent to which investors are participating in the market. Why? Investors are far more likely to have the funds to purchase, whereas the typical buyer requires a mortgage or financing.

SAMPLE OF THE INTENSIVE RESEARCH WE DO - CONTACT FOR UPDATED INFO
Average Percent of Original Asking Price Received - 2016 - 94% 2017- 96%
SUNSET VISTAS
- Treasure Island Florida - CONDO HOTEL INVESTMENT
ALL UNITS HAVE A BALCONY AND A VIEW OF THE GULF BEACH. ALL UNITS ARE FULLY FURNISHED WITH SIMILAR TOMMY BAHAMA FURNISHINGS.
The under building parking is on the first level. Each unit has a private parking space..

All units are completely furnished - washer, dryer, range, microwave, fridge, utensils, plates, towels, cable, tv's. Owners can use the unit for 90 days every year. On site property management, security, outside beach bar, 2 pools, full restaurant, recreation exercise room.

Different Units gross approximately $35,000 to $97,000 before mgt fees

Owners can block out any 90 days per for personal use and it can be separate weeks
The 2br units for sale have gross annual income from $35,000 to $97,000 depending on location in the complex and the amount of time the owners used the unit personally.
Your bank or lender should know that the loan is for a CONDO HOTEL INVESTMENT. You may be required to put down a higher down payment. All Cash buyers usually get the best deals. A few gross income statements from past negotiations are below. The ones that appear in the listings remarks we ask to see the actual sellers rental invoices.
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UNITS STARTING WITH NUMBER 2 are on the 2nd floor. 6 is the top floor.
Units with a W are the front of the complex. S is South and N is North part of complex.
Units with the number 13 are closest to the beach. Units starting at 1 are furthest from the beach.

All units have a gulf view from their balconies. Some are called premium gulf front or partial gulf views. Valuations are generally based by the location of the unit.

Sunset Vistas Condo Hotel below -Note that All units have a view of the Beach
florida beach condo photo
There are appx 160 units ... 65 are N and 65 are S - 24 are W -they are all 2BR
There are appx 6 - 3 bedroom units ... no 3BR are available for sale now.

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Sunset Vistas - Treasure island - Built 2006

Gulf-Front Condo Hotel. Owner can use it 90 days per year. Owners average appx 85 to 96% occupancy rate from the on-site management company. On site restaurant, beach tiki bar and barbque grills and fitness center. Near Johns Pass Village for Boat rentals, dozens of restaurants and shops, casino cruises etc. Sunset Vistas includes the clean out in their fee. other property managers charge from $80 to $100 each time a renter leaves. Discounted tickets to Busch Gardens, Adventure Island and SeaWorld available for purchase at Sunset Vistas' front desk. Stay 14 nights or more and receive 20% off our daily rate. SUNSET VISTAS - Stay 7 nights or more and receive 15% off our daily rate
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Gross rental income from invoices vary with location of the unit. They charge more for renting units closer to the beach. The owners also ask more when selling those units.
When doing net approximations you should account for appreciation of the unit...depending on purchase price. Contact us for an analysis.

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Note : Renters pay the state sales and tourist tax.
Go to IRS publication 527 about the tax benefits of a vacation rental home. Consult with your accountant or tax preparer about deductions for travel and expenses to the unit etc.
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Condo insurance - The HOA has the master insurance policy which covers the common areas and buildings from the outside. Part of the monthly association fees go to the upkeep and insurance for the common areas.

Condo insurance policies cover the inside structure of your unit and personal contents.

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Condo Interior Warranties for Appliances Etc.
Globe Home Warranty Review Plans
American Home Shield Build Your Own Plan


Some prior rental histories on Premium Gulf View Units up to $92,000
SUNSET VISTAS Florida Condo Hotel Info
Rental Info - Sunset Vistas Florida Beach Condo Hotel
Sunset Vistas Financial Statement CLICK HERE


John Pass Village and Boardwalk
- attractions and food is less than 1/2 mile away from Sunset Vistas with more than 100 shops, restaurants and attractions Boat and Jet Ski Rentals - Fishing Charters and Casino Cruises - Located on the Gulf of Mexico at Madeira Beach
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The range that condos rent for represent a variety of properties. They vary not only in size and location but also in position within the building. For example a 2 bed 2 bath on the first floor overlooking the parking lot may rent for $900.00 per week where the one on the 5th floor looking directly out to the Gulf may rent for $1600.00 per week.

Another example is two different condos both looking directly out on the gulf from the 3 floor. One condo is on a large sandy beach within walking distance of a well known beach area that has all the resort hotels, restaurants and beach shopping. This unit rents for $1800.00 per week in season. The other condo similar in size and with a beach view....is on a smaller remote beach and not within walking distance of restaurants, beach shopping etc....may only rent for $1,000.00 per week in season.

The difference is the vacationing public. MOST families want to be where activities and dining are abundant. They are more willing to pay higher rates for the atmosphere of the area. Whereas other vacationers may be retired and are looking for more remote locations that are less expensive and quieter. Both condos will be rented. Both will be busy. One just has a much greater potential for earnings.


Video of Unit 501-N at Sunset Vistas. They are all furnished similarly. This is from the 5th floor. Units like this one from furthest from the beach are the least expensive. VIDEO HERE


 

Note : We're a team of Florida Buyers Agents offering you access to every Listing. We Represent Buyers not Sellers- As unfair as it seems, in many typical real estate purchases, the only one NOT usually fully represented is the buyer. Always ask any real estate agent you contact about a property....."Is this your listing?" "Are you only emailing me or showing your brokerage listings?"

NOTE- Short term rentals generate the most money for investors.
WE DID NOT INCLUDE UNITS THAT HAD 30 DAY RENTAL RESTRICTIONS, AS THERE WOULD NOT BE A GOOD RENTAL ROTATION FOR CASH FLOW. If you only desire a unit to use and occasionally rent out...they would be perfect for you. Let us know if you want that information emailed to you 727-399-1347

Approximate Annual Expenses
All figures are approximate and being used as a general guide
SUNSET VISTAS - Sales Comparisons
SOLD vs LIST PRICE IN LAST 12 MONTHS AT SUNSET VISTAS
Note - Average Percent of Asking Price to Sold Price
and location of the unit
. Units with the number 13 are closest to the beach. Units starting at 1 are furthest from the beach.
Unit 213S - $499,000 minus 5% =$ 474,050

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All figures are approximate and being used as a general guide

Unit 213-S Ask $499,000 Premium Beach View
213-S-Rental-Info  Using Provident Management
37% fee -  plus 3% for owners reserves  Video Here

$70,400 2016 Rental Revenue for 2016
List Price: $499,000 - 114 Days on Market
Assume Accepted All Cash Offer of $474,000
2016 Taxes: $5,081.00
HOA Fee Monthly: $567.00 Includes: Building Exterior, Cable, Community Pool, Escrow Reserves Fund, Flood Insurance, Ground Maintenance, Insurance Building, Pest Control, Roof, Security, Trash Removal, Water/Sewer.

ESTIMATES -Appx numbers - Accepted price
$474,000
Gross Annual Rental Revenue $70,400
Property Management 13% assuming buyer ads bring in renters) rental fee $9152  (61,248)

Appx cleanout fee $80 X 30=$2400 (charged to renter and included in Gross)

$58,848
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Tax 13% on Gross $70,400 =$9152
$49,696
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Maintenance fee $567 x 12=$6804
$42,892
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Interior Content Liability Insurance for the unit - appx $1000
$41,892
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Warranties for Appliances Etc - appx $400
$41,492
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Electric appx $150 x12=$1800
$39,692
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Property Tax on $485,000 = appx $6,000
$33,692
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APPX NET - $33,692 (with 13% management fee and your advertising)
(Appx 7% return without additional IRS deductions)

SUNSET VISTAS
Sunset Vistas Info
Provident Management Rental Program Info

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$599,000 - Waterfront Clearwater Beach FL Investment Condo

Unique Furnished Top Floor 3Bedroom Unit generates Rental Revenues $40,000 to $50,000 Annually
minimum rental period is 7 days.
Sold Price $570,000

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Direct Gulf Beach Condos For Sale
Sold $430,000 - Unit #211-N Sunset Vistas Investment Condo

Unit is Close to the Beach - on site property management - no clean out fees $68,632 Gross Rental 2015 - Owners Revenue ($38,045) $36,013 + $2,032 in reserve $63,692 Gross Rental 2014 - Owners Revenue ($34,213) $32,361 + $1,852 in reserve 2015 Taxes: $4,542.00  Monthly Condo Fee: $567

SOLD $447,500 - ASKED $457,900 - Madeira Beach FL Investment
Taxes: $4,859.00 Monthly HOA Fee: $818.00
2015 Gross Rental Income estimated at $50,000
Near Johns Pass Village

RARE 3 BEDROOM UNIT 1380sq ft Sold for $447,500
$469,000 - 3BR Indian Rocks Beach FL Investment Condo
As of September 1, the owner has already fully booked from December 1st to April 16, 2016 - Taxes: $6,629.00 HOA Fee: $441 Monthly
7 day rental building with 5 days minimum - small pet allowed
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ON THE MAP BELOW - Note that Pinellas County
is a peninsula surrounded by water on 3 sides. To the west and south is the Gulf of Mexico and to the east a body of water called Tampa Bay separating Pinellas County from Hillsborough County (Tampa)

3 bridges connect the 2 counties over the Tampa Bay waterway for fast access to Tampa International Airport & Downtown Tampa.

From Clearwater Beach > all the way down to St Pete Beach, you can see a strip of land that runs the entire length. To the right is the Intracoastal waterway. The Intracoastal has 3 outlets for boaters to get to the Gulf. One in Clearwater at Sand Key, another at Johns Pass in Madeira Beach and one below St Pete Beach near Gulfport.

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Seasons and
Average Rental Rates for some Gulf Front and Intercoastal Units
These are approximations from a rental survey. Location, amenities and furnishings will have an effect on the final rental pricing for each individual unit.
We used an average to compute the figures below. Some units rent for much higher prices.

Season 1 - Highest Rates            Season 2 - Mid Rates           Season 3 - Lowest Rates
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SEASON I
  December 18 - January  7 ...... February 1 - April 15 .........July 1 - July 7 ...........December  21 - January 5
Gulf Side
- Weekly - 2 Bedroom $1,000.00 to $1,250.00 ......3 Bedroom $1,250.00 to $1,500.00
Intercoastal Water
 Weekly -  2 Bedroom  $800.00 to $950.00 ..... 3 Bedroom $950.00 to $1,100.00
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SEASON 2  January  8 - January  31.......... April 16 - June 30 ......  July 8 - September 10
Gulf Side
 Weekly - 2 Bedroom $900.00 to $1,100.00 ......3 Bedroom $950.00 to $1,200.00
Intercoastal Water
Weekly -  2 Bedroom  $700.00 to $850.00 ..... 3 Bedroom $800.00 to $950.00
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SEASON 3  September 11 - December 20
Gulf Side
 Weekly - 2 Bedroom $750.00 to $900.00 ......3 Bedroom $850.00 to $1000.00
Intercoastal Water
 Weekly -  2 Bedroom  $600.00 to $750.00 ..... 3 Bedroom $650.00 to $800.00
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It's a buyers market and we are skilled negotiators as you will become aware of as we progress forward.

The Top Team - Realtors® with Florida's Largest Real Estate Office
Charles Rutenberg Realty, Inc. 1545 S Belcher Road, Clearwater Florida 33764


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